Janney Montgomery Scott LLC

Investment Fraud Lawyers Are Ready to Affirm Your Rights

Janney Montgomery Scott, LLC is a full-service financial services firm that holds the second-oldest seat on the New York Stock Exchange. Founded in 1832, Janney Montgomery Scott provides financial advice and services to individual, corporate, and institutional investors. Janney Montgomery Scott independently operates as a subsidiary of The Penn Mutual Life Insurance Company. Headquartered in Philadelphia, PA, the firm has approximately 100 offices along the East Coast and over 1,000 financial consultants nationwide.

Failure of Supervision

With that many representatives, Janney Montgomery has to ensure that their supervisory measures are well-tuned and detail-oriented. Unfortunately, their disciplinary record has not shown this to be the case. In 2010, they were fined $175,000 by the Financial Industry Regulatory Authority (FINRA) for a number of violations, mostly having to do with inadequate procedures. For example, Janney Montgomery failed to enforce Anti-Money Laundering procedures among their brokers and AML compliance officers, whose duties center around preventing money laundering.

During the same period of time, they did not enforce procedures for monitoring trades done through broker’s personal computers, a dangerous practice when it comes to supervising the behavior of their representatives. In addition, Janney was fined for allowing up to 73 of their branch managers the ability to approve their own transactions, either on their accounts or their clients’, without oversight or any accountability. Clearly, this is not ideal or legal.

FINRA Grants Investors Rights

As a FINRA-licensed firm, Janney Montgomery Scott LLC is legally obligated to monitor their brokers to ensure ethical, honest trading. When there is a lack of supervision, unscrupulous behavior is allowed to occur without knowledge or punishment, costing investors thousands, even millions of dollars. When this occurs, FINRA grants wrongfully-treated investors to hold Janney Montgomery Scott legally and financially responsible for restoring their losses.

Get the Help of Our Investment Law Attorneys Today

If you think you may have lost your assets due to the negligence or fraud of a Janney Montgomery broker, you may have legal recourse to sue for your money back, even if that representative no longer works for the firm. Meyer Wilson has the resources to go up against large investment firms and recover your losses. Our attorneys recovered $350 million for our clients because we have the skill and experience to fight on your behalf.

Contact Meyer Wilson for a free case evaluation. We can help you determine the next step.

The Meyer Wilson Way

Results-Focused Representation
  • More than $350,000,000 Recovered
  • Voted Best Lawyers in America┬« for over Ten Years Running
  • David Meyer is the Immediate Past-President of Public Investors Advocate Bar Association (PIABA)
  • Over a Thousand Investor Claim Cases Since 1999
  • Exclusive Focus on Investor Claims & Class/Mass Action Lawsuits
  • Deep Bench of Skilled Attorneys and Staff Members

We Recover Investment Losses

Helping You Take Back What Is Yours
  • Jury Verdict Won Against Prudential Securities $262 Million
  • Recovered for 100-Year Old Widow $30 Million
  • Recovered in Retirement Losses $10 Million
  • Recovered for a Large Group of Individual Investors $6.5 Million
  • Recovered for Elderly Victim in Ponzi Scheme Case $3.8 Million
  • Recovered for Elderly Ponzi Scheme Victim $3.2 Million
  • Recovered for More Than 50 Families of Ponzi Scheme in California $3.2 Million
  • Recovered for 35 Families in Northeast Ohio $3.1 Million
  • Losses Recovered for 20 Retirees $3 Million
  • Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration $2.5 Million

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